Home Loan EMI on ₹15L at 8% for 15 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹14,335
Total Interest
₹10,80,300
Total Payment
₹25,80,300
Your monthly home loan EMI is ₹14,335. Over 15 years, you pay ₹10,80,300 in interest — that's 72% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹53,970 | ₹1,18,050 |
| 2 | ₹58,450 | ₹1,13,570 |
| 3 | ₹63,301 | ₹1,08,719 |
| 4 | ₹68,555 | ₹1,03,465 |
| 5 | ₹74,245 | ₹97,775 |
| 6 | ₹80,408 | ₹91,612 |
| 7 | ₹87,081 | ₹84,939 |
| 8 | ₹94,309 | ₹77,711 |
| 9 | ₹1,02,137 | ₹69,883 |
| 10 | ₹1,10,614 | ₹61,406 |
| 11 | ₹1,19,795 | ₹52,225 |
| 12 | ₹1,29,738 | ₹42,282 |
| 13 | ₹1,40,506 | ₹31,514 |
| 14 | ₹1,52,168 | ₹19,852 |
| 15 | ₹1,64,722 | ₹7,222 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹53,970 | ₹1,18,050 | ₹14,46,030 |
| 2 | ₹58,450 | ₹1,13,570 | ₹13,87,580 |
| 3 | ₹63,301 | ₹1,08,719 | ₹13,24,278 |
| 4 | ₹68,555 | ₹1,03,465 | ₹12,55,723 |
| 5 | ₹74,245 | ₹97,775 | ₹11,81,478 |
| 6 | ₹80,408 | ₹91,612 | ₹11,01,070 |
| 7 | ₹87,081 | ₹84,939 | ₹10,13,989 |
| 8 | ₹94,309 | ₹77,711 | ₹9,19,680 |
| 9 | ₹1,02,137 | ₹69,883 | ₹8,17,543 |
| 10 | ₹1,10,614 | ₹61,406 | ₹7,06,929 |
| 11 | ₹1,19,795 | ₹52,225 | ₹5,87,134 |
| 12 | ₹1,29,738 | ₹42,282 | ₹4,57,396 |
| 13 | ₹1,40,506 | ₹31,514 | ₹3,16,890 |
| 14 | ₹1,52,168 | ₹19,852 | ₹1,64,722 |
| 15 | ₹1,64,722 | ₹7,222 | ₹0 |
Tax Benefits on Home Loan
Under Section 24(b), you can claim a deduction of up to ₹2 lakh per year on home loan interest for self-occupied property. Under Section 80C, principal repayment up to ₹1.5 lakh qualifies for deduction. These benefits can save you significant tax over the loan tenure.